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Secured Business Loan - Eligibility

To apply for the loan, it is crucial to check the SME business loan eligibility. Whether you apply for a Regular Secured Business Loan or Secured Business Loan, the following is the eligibility criteria for the borrowers looking to avail loan against property:

  • Any Indian resident, either salaried or self-employed, can avail of finance for SME.
  • The age group of the applicants can be a minimum of 21 years and a maximum of 70 years.
  • Primary applicants can choose a co-applicant to increase the loan eligibility limit and avail the best business loan interest rate. The co-applicants can be partnership firms, close relatives or private limited companies.
  • The entities eligible for the business financing include Shopkeepers, Wholesalers, jewellers, retailers, micro and small manufacturing enterprises, and self-employed professionals.
  • Properties covered include residential property, commercial/mixed-use properties and industrial built up.
  • Loan to Value on the properties goes up to 65%.
  • Transactions covered include Loan Against Property, Balance Transfer of Loan Against Property along with top-up, Non-Residential Purchases and balance transfer of Non-Residential Purchases.
Product Type

Regular Secured Business Loan

Minimum Loan Amount (non metro) (INR)

25 lakhs

Minimum Loan Amount (metro) (INR) 35 lakhs
Maximum Loan Amount (non metro) (INR) 10 crore
Maximum Loan Amount (metro) (INR) 10 crore
Maximum Tenure (Years) 10